Zhonghua Gas Holdings Cash Flow Statement

Financials in millions CNY. Fiscal year is April - March.

Millions CNY. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Mar '25 Mar 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-40.2	-48.64	-49.1	-6.66	-5.25	-191.31
Depreciation & Amortization	1.9	1.82	1.87	13.14	14.55	14.84
Loss (Gain) From Sale of Assets	0.02	0.02	-	-	0.04	-0.15
Asset Writedown & Restructuring Costs	1.1	1.1	-	26.87	0.93	-
Stock-Based Compensation	21.49	21.49	-	1.63	-	-
Provision & Write-off of Bad Debts	-3.34	-3.34	-	-66.74	-29.39	195.4
Other Operating Activities	16.18	7.64	-82.46	15.07	10.87	-28.29
Change in Accounts Receivable	-139.35	-139.35	-	181.57	3.96	4.81
Change in Accounts Payable	1.41	1.41	-	-1.65	-13.61	8.26
Change in Unearned Revenue	5.16	5.16	-	-	-0.24	-14.43
Operating Cash Flow	-135.63	-152.67	-129.69	163.23	-18.14	-10.87
Capital Expenditures	-0.63	-0.59	-0.74	-0.45	-0.06	-11.74
Sale of Property, Plant & Equipment	-0.23	0.92	1.15	-	0.15	7.5
Other Investing Activities	0.11	0.14	0.17	0.79	0.1	0.17
Investing Cash Flow	-0.75	0.46	0.58	0.34	0.19	-4.07
Short-Term Debt Issued	-	-	49.54	8	-	-
Total Debt Issued	17.06	42.47	49.54	8	-	-
Short-Term Debt Repaid	-	-	-99.12	-4.55	-	-1.8
Long-Term Debt Repaid	-	-	-1.61	-1.92	-3.15	-9.48
Total Debt Repaid	-45.98	-81.09	-100.73	-6.47	-3.15	-11.28
Net Debt Issued (Repaid)	-28.91	-38.62	-51.19	1.53	-3.15	-11.28
Issuance of Common Stock	43.35	43.35	54.19	-	-	3.73
Other Financing Activities	0.12	-0.62	-0.94	-8.03	-4.88	-0.31
Financing Cash Flow	14.56	4.11	2.05	-6.5	-8.02	-7.86
Foreign Exchange Rate Adjustments	0.08	0.12	0.08	0.26	3.96	-1.92
Net Cash Flow	-121.76	-147.98	-126.98	157.33	-22.02	-24.72
Free Cash Flow	-136.26	-153.26	-130.43	162.78	-18.2	-22.61
Free Cash Flow Margin	-141.29%	-157.66%	-146.24%	87.21%	-9.08%	-5.37%
Free Cash Flow Per Share	-0.03	-0.04	-0.04	0.04	-0.01	-0.01
Cash Interest Paid	0.06	0.14	0.34	7.27	6.88	0.31
Cash Income Tax Paid	0.07	0.07	0.06	0.34	0.03	1.09
Levered Free Cash Flow	-	-	-119.01	148.88	-24.33	64.9
Unlevered Free Cash Flow	-	-	-113.67	150	-24.19	65.09
Change in Working Capital	-132.78	-132.78	-	179.92	-9.89	-1.36

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.